WTC Records Folder 0123 Clippings label, Sept 2001

NYC 9/11 Public Portal Document

January leases in buildings constructed prior to -Second;the program limits eligibility to induce commercial when the program was created to 1, 1975, a requirement imposed that had the highest vacancy rates. Given the leasing activity in older office buildings include a wider requirement could be updated to current economic situation, this eligibility could be area. Under this proposal, population of properties in the Downtown January 1, 2001) extended to buildings constructed prior to "certificate of permit tenants to receive a second Finally, the current program does not in the 'eligible area. renewals or new leases abatement" for subsequent lease benefits at the time of the attack and CRP Consequently. tenants who had been receiving the area are nq in other eligible building's in were subsequently forced to find space addressed by authorizing program. This issue can be longer eligible to participate in the premises solely as a were required to relocate to hew eligible -; benefits for businesses that ' result of the disaster. will be CRY, the cost of these proposed changes Based on the City's experience with the within four to five much as S20 million annually minimal in the near-term but grow to as years. n please let me know. If you have any further questions,

NYC-WTC 000137030